Latest news with #HimanshuThakur
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Business Standard
10 hours ago
- Politics
- Business Standard
Govt likely to introduce bill to restore J&K statehood in LS on Aug 20
On Aug 5, 2019, Centre abrogated Article 370 and 35A, ending J&K's special status Himanshu Thakur New Delhi The government is likely to introduce a bill to restore the statehood of Jammu and Kashmir (J&K) in the Lok Sabha on August 20, 2025, according to a report by The Tribune. On August 5, 2019, the Centre abrogated Article 370 and Article 35A of the Constitution, which had granted special status to the former state. The announcement at the time was made in Parliament by Union Home Minister Amit Shah. With the abrogation, Jammu and Kashmir lost its separate Constitution. The state was simultaneously reorganised into two Union Territories: Jammu and Kashmir, which was given a legislative assembly, and Ladakh, which was created without one.
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Business Standard
13 hours ago
- Business
- Business Standard
Govt likely to tighten rules for money-based games in Online Gaming Bill
The draft Bill is likely to impose severe restrictions on online money games or online money gaming service offerings, including bank transactions Himanshu Thakur New Delhi The government may introduce severe curbs on online money-based games in the forthcoming Online Gaming Bill, 2025, a CNBC-TV18 news report said on Tuesday. The draft Bill was reported to impose restrictions on online money games or online money gaming service offerings, a move that could impact multiple firms in the country. It is also expected to classify an 'online money game' as any game — irrespective of skill- or chance-based — that involves players paying a fee or depositing money to participate.
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Business Standard
11-06-2025
- Business
- Business Standard
US invites Pakistan Army Chief Munir for Army Day celebrations on June 14
Washington likely to raise terror concerns and China-Pakistan ties during General Munir's visit for US Army's 250th anniversary Himanshu Thakur New Delhi Pakistan's Chief of Army Staff (CAOS), General Syed Asim Munir, has been invited by the United States to attend the 250th anniversary of the US Army on June 14, the same day as US President Donald Trump's 79th birthday. General Munir is expected to arrive in Washington, DC on June 12, according to a report by CNN-News18. The visit, while ceremonial on the surface, carries deeper strategic implications. The US is expected to use the occasion to press Pakistan to act against terrorist groups operating against India, especially in the wake of recent tensions triggered by Operation Sindoor, India's retaliatory strike following the Pahalgam terror attack on April 22. Strategic overtones and China concerns Although framed as part of a broader military celebration, the invitation to Munir is viewed as part of Washington's recalibration of its regional strategy. The US is reportedly concerned about Pakistan's deepening economic and military ties with China, particularly through the China-Pakistan Economic Corridor (CPEC) and Belt and Road Initiative (BRI). Economic backdrop On May 14, the International Monetary Fund (IMF) disbursed a $1.023 billion tranche under the Extended Fund Facility, following a broader understanding between New Delhi and Islamabad after Operation Sindoor. Pakistan's Finance Minister Muhammad Aurangzeb presented the national budget for FY 2025–26 on June 10, with a notable 20 per cent increase in defence spending to PKR 2.55 trillion ($9 billion). The budget reflects heightened security concerns following the cross-border conflict with India. The total budget outlay stands at PKR 17.573 trillion ($62 billion), marking a 6.9 per cent decrease from the previous year. Notably, military pensions worth PKR 563 billion ($1.99 billion) remain outside the formal defence allocation. Pakistan's public debt reached PKR 76,000 billion in the first nine months of the fiscal year, with projected GDP growth of just 2.7 per cent, far behind the regional average of 5.8 per cent reported by the Asian Development Bank for 2024.
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Business Standard
29-05-2025
- Business
- Business Standard
Sobha Q4 results: Net profit rises multi-fold to ₹40 cr, revenue up 62%
The company's revenue from operations rose by 62 per cent to ₹1,240.61 crore in the Q4FY25, it had reported ₹762.86 revenue in the corresponding quarter of FY24 Himanshu Thakur New Delhi Real estate company Sobha Limited's profit after tax (PAT) increased 481.7 per cent to ₹40.85 crore in the fourth quarter of financial year 2024-25, it had reported a PAT of ₹7.02 crore for the same quarter of previous financial year. The company's revenue from operations rose by 62 per cent to ₹1,240.61 crore in the Q4FY25, it had reported ₹762.86 revenue in the corresponding quarter of FY24. The company has proposed a dividend of ₹3 per equity share for the financial year ending March 31, 2025. This proposal is subject to shareholder approval at the upcoming Annual General Meeting. Jagadish Nangineni, Managing Director of Sobha, said, "The fourth quarter of 2024-25 reflected steady and encouraging progress for Sobha." The company reported a significant 93 per cent year-on-year (YoY) increase in Profit After Tax (PAT), rising from ₹49 crore in FY24 to ₹95 crore in FY25. Revenue for FY25 grew by 29 per cent YoY to ₹4,163 crore, compared to ₹3,218 crore in FY24, with Q4 FY25 revenue witnessing a robust 61 per cent YoY growth over Q4 FY24. Collections in Q4 FY25 stood at ₹1,785 crore, reflecting a 21 per cent quarter-on-quarter (QoQ) increase and a 7 per cent YoY growth, while total collections for FY25 reached ₹6,184 crore. Net debt was reduced substantially to ₹630 crore in the March quarter of FY25. "With the real estate sector continuing to perform well, we see strong potential in the year ahead. The current financial year looks promising, with a robust pipeline of project launches and our planned entry into new cities," Nangineni said. The company's quarterly sales value reached ₹1,836 crore, reflecting a 32 per cent quarter-on-quarter (QoQ) increase. The average price realization in FY25 rose by 23 per cent year-on-year (YoY) to ₹13,412 per sq. ft. During Q4 FY25, the total sold area amounted to 1.56 million sq. ft, marking a 53 per cent QoQ growth. The launched saleable area for FY25 increased by 25 per cent YoY, reaching 8.76 million sq. ft. However, total sales value for FY25 declined by 6 per cent YoY to ₹6,277 crore, compared to ₹6,644 crore in FY24.
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Business Standard
18-05-2025
- Business
- Business Standard
AEPC inks pact with GBIC for climate-friendly garment manufacturing
The MoU aims to increase the number of Indian garment factories with LEED certification, reflecting a push towards climate-friendly and energy-efficient manufacturing Himanshu Thakur New Delhi Sudhir Sekhri, Chairman of AEPC, reaffirmed the Indian garment sector's dedication to sustainability, stating, 'The LEED certification indicates reduced resource consumption, lower carbon footprint and improved air quality within the factory. Additionally, it lowers the operating cost, increases the property value and improves investors' confidence. I am sure more and more factories will go for this certification in times to come.' Thakur pointed out that while India currently has only 13 LEED-certified garment factories, Bangladesh has around 250. 'There is a greater emphasis from the reputed brands globally on sustainability and we need to quickly catch the boat for staying competitive in the international market,' he said.
